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Redbox Partners With Comcast’s FreeWheel to Bring Advertising Technology to Its Free Streaming Platform
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Redbox has partnered with FreeWheel to enhance its advertising capabilities across its free streaming services, including AVOD and FAST channels. This integration allows advertisers to efficiently purchase ad inventory while targeting specific audiences on a national and local scale. Redbox's focus on expanding its advertising business comes as it prepares to merge with Seaport Global Acquisition Corp. (NASDAQ: SGAM, SGAMU, SGAMW), aiming to accelerate its transition to a public company and diversify its entertainment offerings.
Positive
Partnership with FreeWheel to integrate programmatic advertising technology.
Enhanced ability for advertisers to target specific audiences effectively.
Expansion of advertising business coinciding with merger with Seaport Global Acquisition Corp.
Negative
None.
Technology integration will allow advertisers to easily buy ads across Redbox streaming services including Ad Supported Video on Demand (AVOD) and FAST (Free Ad Supported Television) channels
CHICAGO--(BUSINESS WIRE)--
Redbox, a leading entertainment company, today announced it will partner with FreeWheel, a Comcast Company that provides global technology solutions for the future of television advertising, to integrate programmatic technology across Redbox's free streaming platforms. Through this technology, advertisers will be able to easily access and buy Redbox inventory – both nationally and locally— and target specific audiences.
Redbox offers two free streaming options – Ad Supported Video on Demand (AVOD) which contains thousands of free movies, and FAST (Free Ad Supported Television), which has over 100 free channels. The company has been rapidly expanding both areas through content deals with studios and networks. As Redbox focuses on continuing to expand to local markets nationwide, FreeWheel’s partnership across the ecosystem will enable advertisers, demand side platforms (DSPs), and buyside systems to easily access Redbox inventory with scale and simplicity.
"Redbox selected FreeWheel for a number of reasons, including its unique industry approach to programmatic technology," said Jason Kwong, Chief Strategy and Digital Officer, Redbox. "As we continue to ramp efforts in the free streaming space, we knew FreeWheel would accelerate our advertising capabilities and allow advertisers to easily micro-target viewers across all our streaming platforms. We're excited to partner with them and to further grow our business."
“Redbox has put a lot of focus on their growing advertising business, and with that comes the need to monetize their vast amount of inventory,” said Dave Clark, General Manager, FreeWheel. “We are thrilled to be working with the team at Redbox to scale their national advertising footprint across local markets, as well as facilitating unique local demand in ways that work best for their business. As FreeWheel continues to expand our focus and enable better connection across the ecosystem, Redbox is an ideal partner.”
About Redbox
Redbox is America's leading destination for affordable new-release movies and entertainment with more ways to watch than any other home entertainment provider. Redbox delivers value and convenience through unparalleled choice across content, platforms, rental and purchase options, and price points. The company recently announced a definitive agreement to combine with Seaport Global Acquisition Corp. (Nasdaq: "SGAM," "SGAMU," and "SGAMW"), a publicly traded special purpose acquisition company. The transaction, which will result in Redbox becoming a publicly traded company, is expected to accelerate Redbox's ongoing transformation to offer customers and partners a multi-product experience across physical and digital channels. The company's expanding streaming offering includes digital rental and purchase as well as free live TV and free On Demand content and complements Redbox's nationwide footprint of entertainment kiosks, conveniently located where consumers already shop. Redbox Entertainment, a new content acquisition and production division, has further transformed Redbox into a multi-channel content provider. For more information, visit redbox.com.
About FreeWheel
FreeWheel, A Comcast Company, empowers all segments of The New TV Ecosystem. We are structured to provide the full breadth of solutions the advertising industry needs to achieve their goals. We provide the technology, data enablement, and convergent marketplaces required to ensure buyers and sellers can transact across all screens, across all data types, and all sales channels, in order to ensure the ultimate goal – results for marketers.
With offices in New York, San Francisco, Chicago, London, Paris, Beijing, and across the globe, FreeWheel, A Comcast Company, stands to advocate for the entire industry through the FreeWheel Council for Premium Video. For more information, please visit freewheel.com, and follow us on Twitter and LinkedIn.
What is the significance of Redbox partnering with FreeWheel?
The partnership with FreeWheel allows Redbox to enhance its advertising capabilities and streamline access to its ad inventory across its free streaming services.
How will the FreeWheel partnership impact advertisers on Redbox?
The integration enables advertisers to easily purchase ad inventory and micro-target audiences both nationally and locally on Redbox's platforms.
What are the stock symbols associated with Redbox's planned merger?
Redbox is merging with Seaport Global Acquisition Corp., which has the stock symbols NASDAQ: SGAM, SGAMU, and SGAMW.
What types of streaming services does Redbox offer?
Redbox provides two free streaming options: Ad Supported Video on Demand (AVOD) and Free Ad Supported Television (FAST) channels.
What is Redbox's strategy for expanding its advertising business?
Redbox aims to grow its advertising business by integrating with FreeWheel to monetize its vast inventory and expand its national advertising footprint.
